Toss a Coin to Your Landlord? Office Market Gets a Witcher's Potion of Change

The Winds of Change are Howling... in Cubicles?

Well damn. Looks like even the mighty Temeria of office spaces isn't immune to the Wild Hunt of economic shifts. Heard from some folks at CBRE not as trustworthy as Vesemir mind you but they seem to know their stuff that for the first time in decades more office space is getting yeeted into the abyss than is being built. That's right the world is changing and people finally realized that the only 'conference call' they want to be on is with a pint of ale.

Demolish and Convert: A Witcher's Kind of Renovation

23.3 million square feet of space getting either turned into something useful (like say taverns or brothels) or simply pulverized. Meanwhile a measly 12.7 million square feet are being erected. Seems like a good sign fewer places for me to get swindled out of my coin by crooked merchants posing as real estate agents. Makes a Witcher think maybe there's hope for this world yet even if it’s just a little bit of hope.

Vacancy Rates: Lower Than My Tolerance for Elves?

The suit types are yapping about vacancy rates dropping which apparently is a good thing for the ones who own these concrete monstrosities. Seems all those empty desks and sad wilting office plants are finally getting some company. Employers are dragging their employees back in chains and as the job market tightens more are accepting their fate. Just like how I accept the fact that I'll never get paid fairly for killing a griffin despite saving the whole bloody village.

Net Absorption: Is This Alchemy or Accounting?

Apparently it's been positive for four quarters after six quarters of being drier than the Passiflora's wine list at the end of the week. Office leasing activity also jumped. Looks like the wheel is turning even if it is slower than Roach on a cobblestone road. One good sign is more coin for me.

Prime Real Estate: Where the Gold is Always Greener

The big boys like Vornado and SL Green are rubbing their hands together. They're already seeing rent recover in the prime locations and Class A spaces. More gold than you can shake a silver sword at. Good for them. I'll stick to killing monsters because that's just what witchers do.

The Road Ahead: As Rocky as the Path to Kaer Morhen

They say the conversion trend faces headwinds. Apparently the 'ideal' buildings are disappearing. And things like construction labor materials and all that? Cost more than a night with Triss Merigold I imagine. Also there's the question if converting offices to residences will lead to higher populations in these areas and with that comes the inevitable rise in crime...and the inevitable need for more witchers. But that's a concern for another time.